Many people believe that Bitcoin will rebound to surpass the $60,000 mark. But Mark Yusko seems to have a bigger picture of the token’s future price. Morgan Creek Capital’s CEO and founder Mark Yusko serves as chief investment officer.
He stated that Bitcoin’s price could rise to $250,000 over the next five year. Bitcoin is now a highly valued currency. This could explain why this potential. This perspective is not shared by many investors. This information was revealed by. InterviewHeld in June 2021.
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The latest industry gossip states that Yusko still stands his ground on the future price of Bitcoin.
BTC Historical Performance (Halving events)
There’s another way to look at the possibility of Bitcoin’s massive growth in the future, says Yusko. The historical record of Bitcoin’s performance at every halving event that it has experienced is an example.
Bitcoin is following a certain trend, adding zeros to every halving. It was $10 at the first halving, and $100 after that. It was then halved again to reach $1,000 and $10,000 respectively. The token’s next price will now be $100,000.
An Overview of Bitcoin Price History
Despite the bearish market, it’s clear that Bitcoin has witnessed significant growth from the time of launch till date. BTC made $100 and then rose to $230 in April 2013. BTC’s price fluctuated for several months, but it reached $1,237 on April 8.
It plunged into 2015 and 2014, but it was not a very successful year for BTC. BTC began 2015 at a slightly higher price than $300. However, it steadily climbed until the end of 2015. It maintained its upward trend throughout 2016, ending the year at an average of $900.
The token’s value kept rising regardless of the ups and downs it witnessed over the years. On November 10, 2021 it reached $68,789, which was its highest ever. It ended the year with $64,995.
Another round of dipping began for the token price from January to March 2022. The price dropped below $47,000. at the end March. Its price has dropped to $19 096 despite its steady movement. According data from TradingView BTCUSD price chart from TradingView.com.
This is The Trigger for The Next Bull Cycle
Morgan Creek Capital’s founder and investment officer has shared his views on the potential trigger of the next bull market. This information was revealed in a YouTube interview captioned Thinking Crypto that was released September 22.
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He stated that he is confident the Fed will stop its quantitative tightening within a short time. It will cause a global bull market in crypto markets.
Featured image from Pixabay and chart from TradingView.com